Meaning of the word "raise money for" in English

What does "raise money for" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

raise money for

US /reɪz ˈmʌn.i fɔːr/
UK /reɪz ˈmʌn.i fɔː/

Phrase

to collect money for a specific purpose, often for charity or a project

Example:
•
They are trying to raise money for a new community center.
•
We organized a bake sale to raise money for the animal shelter.